A(n)________ refers to a security interest in property that was not in the possession of the debtor when the security agreement was executed.

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A floating lien is a security interest in property that was not in the possession of the debtor when the security agreement was executed. This type of lien is commonly used for businesses that have inventory or assets that change regularly. A floating lien allows the debtor to add new assets to the security agreement without having to create a new agreement every time. The creditor still has the right to take possession of the assets if the debtor defaults, but the specific assets covered by the lien may change over time. A mortgage is a type of lien that specifically applies to real estate, while attachment refers to the legal process of seizing property to satisfy a debt. Future advance refers to a loan arrangement where the lender agrees to provide additional funds to the borrower in the future.

A(n)________ Refers to a Security Interest in Property That Was